Latvia Eager To Cooperate With Azerbaijan In Renewable Energy Sector
(MENAFN- AzerNews)
By Sabina Mammadli
Latvia sees potential for fruitful cooperation with Azerbaijan
in the renewable energy sector, Azernews reports, citing the
Latvian Foreign Ministry.
The Ministry noted that the country's strategic priority in
cooperation with Azerbaijan is ensuring investments in sustainable
energy capacities, notably wind-and solar-based generation.
“There is a huge potential in the areas of research and
development, knowledge transfer and technological exchange, as well
as solar installation development,' the source said.
According to the ministry, Latvia shares the pan-European
ambition of reducing harmful emissions and reaching a
carbon-neutral macroeconomic output by 2050. The role of natural
gas in the Latvian domestic energy mix has been decreasing over the
last decade due to market, technological and regional factors. The
main source of renewable energy in Latvia is biomass, followed by
energy generated by hydroelectric plants.
Further, it was noted that Latvia welcomes the new gas deal
signed between the European Union and Azerbaijan on July 18, 2022,
to deliver 20 billion cubic meters of natural gas to the EU
annually by 2027.
'The Government of Latvia has agreed to stop buying and using
Russian natural gas as of January 1, 2023. The decision is a
historic milestone toward strengthening Latvia's energy security
and independence. Finding alternative gas supplies to the EU and
diversification of energy sources to counteract the negative
effects of the situation in Ukraine are the top priorities on the
agenda of the Government of Latvia,' the ministry added.
The diplomatic relations between the two countries were
established on January 11, 1994. The Azerbaijani embassy in Latvia
was opened in 2005, and the Latvian embassy in Azerbaijan in
2006.
Relations between Azerbaijan and Latvia have developed at a high
level in all areas. The political dialogue between the two
countries continues through regular reciprocal visits at the
highest possible levels.
The trade turnover between the two countries amounted to $27.1
million in 2021 and $19 million in the first five months of
2022.
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Sabina Mammadli is AzerNews' staff journalist, follow her on
Twitter: @SabinaMmdl
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